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To: Rt Hon Dr Vince Cable

Introduction of a Maximum Wage

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Iain McKenzie
Introduction of a Maximum Wage

Did you know in the UK the average Chief Executive Officer (CEO) makes 143 times the wage of an average worker? (Although some as high as 450 times)

This needs to change! I have campaigned for the Living Wage. It's now within our grasp but we need to make sure CEO's deliver this. If we apply a relative cap 1:100 on CEO's, we can ensure any wage rise they give themselves is reflected on the workforce. 1:100 would still allow CEO's to make a seven figure salary, whilst making sure the worst offenders pay their fair share.

Can you help me in petitioning Dr Vince Cable to endorse the Introduction of a Maximum Wage?

https://s.bsd.net/38degrees/main/page/-/CBY/candidate.gif
[Iain McKenzie is the Labour MP for Inverclyde]

Why is this important?

Some years ago, I worked on the production lines at IBM. To support my family I regularly worked extra shifts or back shifts.

Under this Government we have seen the gap between the wealthiest and the poorest increase exponentially, so much so that it won't be long until there is no middle class anymore. Our only definition for society will be the haves and have-nots.

We need to make sure CEO's are responsible to the shareholders and staff in their industry. Almost forty year's ago CEO's made on average just 26 times what the average worker made, that has increased dramatically to an average of 142x. This doesn't reflect company performance, usually it's because they can get away with it.

It's a fact that this high pay system has led to an increase in risk taking, one of the biggest contributors to the world banking crisis.

It's time the UK had effective measures in place to protect the workforce and the economy, let's put forth the Maximum wage proposal.

United Kingdom

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Reasons for signing

  • i would propose 5 different successive levels of maximum wage: initially 100x [new minimum living wage of £7.20ph], 2yrs later: 80x, 4yr:60x, 6y:50x, 8y:40x [ but Let CEO pay themselves, as they have tendencies to be workaholic, up to 4,748 hours/years]
  • Firstly, I have to say that even allowing top earners to receive 100x the wage of the lowest paid staff member is absurd. But I am signing this because the introduction of a maximum wage legislation would be a good start to then getting that maximum wage down to something a bit more reasonable. I support the idea but not the figures. If you'd petitioned for, say 50x then I think you'd have garnered a lot more support.
  • If employee's wages rise then they will pay more tax and if the CEO's pay is reduced a little then the share holder's dividend will not be impacted. This strikes me as a win/win/win/win solution

Updates

2015-02-11 11:22:22 +0000

My deepest thanks to everyone who has signed up since Monday, I'm glad to see the petition is over the 200 mark as of today!

However we need much more support, so If you can it would be appreciated if you could tweet/facebook about the Petition. We are getting some good coverage as yesterday the debate was highlighted in my Huffington Post blog: http://www.huffingtonpost.co.uk/iain-mckenzie/maximum-wage_b_6650622.html?utm_hp_ref=uk

The debate yesterday allowed me the platform to talk extensively about the current biting austerity the UK is seeing, we need to look at all the options to close the equality gap and I'm glad to lead this debate on you're behalf.

Please take a look at my speech yesterday: http://www.iainmckenziemp.co.uk/2015/02/11/introduction-of-a-maximum-wage/

Let's get #MaximumWage trending!

Thanks for you're support.
Iain McKenzie

2015-02-10 23:34:54 +0000

100 signatures reached

2015-02-10 16:43:22 +0000

50 signatures reached

2015-02-10 12:49:22 +0000

25 signatures reached

2015-02-09 16:44:33 +0000

10 signatures reached